Arts Optical International (HKG:1120) unit Arts Optic Property (M) agreed to acquire a unit of semi-detached factory with a two-storey office in Malaysia from WWRC Ingredients for nearly 12.9 million ringgit, a Monday bourse filing said.
The property is currently being leased by Arts Optic Lab (M.) for the period ending May 6, 2027. Following completion, Arts Optic Property (M) will become the landlord under this lease agreement.
Acquiring the property will eliminate certain uncertainties for the eyewear firm, including potential termination or non-renewal of the tenancy agreement.
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